New Guinea Gold Corp. announced earnings and operating results for the third quarter and nine months ended September 30, 2012. For the quarter, the company reported profit before income tax of $965,667 compared to a net loss of $6,372,512 for the corresponding quarter last year. The net profit includes results from Mining operations, which produced an operating loss of $676,863 for the quarter compared to the September 2011 quarter profit of $2,137,763. The loss from mining is directly attributable to materially lower gold production resulting from the lower grade ores currently being processed and the suspension of mining in May due to funding constraints.

For the nine months, the company reported loss before tax of $7,321,245.

For the quarter, the company's Sinivit gold production was 683 ozs compared to 1,711 ozs in the same period from the previous year. Silver production was 297 ozs compared to 731 ozs for the same period last year. Gold production from the mine was down on the same period from the previous year, primarily due to the fact that mining was suspended in May, with current gold production relying on previously mined ore. Further, the ore processed during the quarter continues to be of a lower grade, although there have been spikes in purity levels during the period.

Full-year production is down on the prior year due primarily to the fact that the Sinivit site was occupied by local landowners in December 2011. The mine was closed for a period of three weeks and production was effectively halted for a period of two months as a result of the occupation.

The Company announced the appointment of Mr. Brian Koster as chief operating officer. Mr. Koster has over 20 years mining experience in throughout Australia, Africa, Indonesia, Fiji and Papua New Guinea and most recently served as vice president exploration for PNG Gold Corporation.